Extent of job cuts unclear
Bitcoin Suisse is cutting jobs
Bitcoin Suisse suffers from the turmoil in the crypto scene. The company is therefore laying off employees. The company does not say how many.
Published: 22 minutes ago
It is not yet known how many jobs will be affected by the dismantling.
The Zug-based crypto financial service provider Bitcoin Suisse is also feeling the effects of the current difficult situation on the crypto markets. Recently, the major US crypto exchange Genesis filed for bankruptcy.
Bitcoin Suisse is not that bad yet. But the crypto company announces organizational adjustments and a reduction in employees. The rumor mill has been simmering since last year, when the collapse of the crypto exchange FTX caused fear and uncertainty.
The “currently challenging, volatile market situation” is also forcing Bitcoin Suisse to take a “cost-conscious approach”, says CEO Dirk Klee. In order to ensure future sustainable growth, a consistent focus on the core business and corresponding organizational adjustments are required. This also includes an “appropriate reduction in employees”.
Extent of dismantling unclear
A company spokeswoman explained on request that the dismantling would take place across the company’s locations in Switzerland, Denmark and Liechtenstein. However, she did not give a specific number. Bitcoin Suisse currently employs more than 200 people at its locations in Zug, Copenhagen, Vaduz and Bratislava.
As part of the focus on the core markets and the current regulatory environment in the European market, Bitcoin Suisse wants to concentrate primarily on the licensing efforts in Switzerland, the spokeswoman continued. The location in Liechtenstein, on the other hand, will not be a focus in the foreseeable future and will therefore be downsized.
In the meantime, the position of chief financial officer at Bitcoin Suisse is being filled by Sven Ramspott on the eight-strong executive board, as the announcement further reveals. He replaces Philipp Vonmoos, who wants to take on a new challenge. Ramspott assumes the position of Chief Financial Officer in addition to his role as Chief Risk Officer.
In addition, Pierre-Alain Krohn will join the management board as Chief Compliance Officer. Krohn has been working in compliance at Bitcoin Suisse since April 2022, when he switched from JP Morgan in Geneva to the crypto service provider in Zug. Michael Gauckler will also join the management board as Chief Product Officer, having previously held the role of Head of Innovation.
The CEO of Bitcoin Suisse Liechtenstein, Mauro Casellini, will also leave the company. He also decided to take on a new challenge. The Liechtenstein location will report to the Chief Operating Officer Peter Camenzind in the same way as the Denmark and Bratislava locations. (SDA/kae)
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